In 2006, the together with the Federal Wire Act (which existed before UIGEA) made online betting illegal. But, a clause was put in that allowed for betting on “games of skill” — a loophole for fantasy sports.
In 2009, FanDuel and DraftKings used that loophole to create online platforms with cash prizes. In 2015, the two companies were so popular that they attracted the attention of regulators — so they ended up having to spend millions, going state-by-state, to stay legal. FanDuel is legal in 40 states, DraftKings has 41.
There’s a chance the issue of legalized sports gambling will go to the Supreme Court. This means that fantasy betting sites would have to compete with horse-race gambling, casinos, etc. But, when polled, most fantasy players said that they’d still spend their money betting on fantasy sports and wouldn’t want to spend the money elsewhere.
All-in-all, the huge interest in fantasy sports isn’t going to dwindle. Even if regulators crack down on online gambling, it’ll only mean more opportunity for fantasy enthusiasts to bet their money.
You don’t have to be a fantasy sports site to benefit from the popularity of fantasy sports on social media. Remember:
- Know your audience and share things that are relevant to them.
- Don’t do all the work yourself. Save your energy and time by scheduling a lot of your content.
- Use similar strategies to the examples we’ve highlighted to drive engagement on your social media networks.
What are some of the sports strategies that have worked for your business on social media?